The stock market may be down , but Manhattan’s ultra-luxury residential market is looking better than it has since the pandemic.
That’s the verdict according to market reports by New York City brokerages, compiled and reported by CNBC . Manhattan’s ultra-high-end luxury real estate market — with properties priced north of $20 million — had its best first quarter in six years, according to a cited Compass report. Those with very deep pockets tend to buy units in all-cash deals; 58% of sales in the quarter were made in cash, with units priced above $3 million seeing 90% of sales from buyers coming in with cash.
Those in-the-know on Manhattan’s luxury market, like Keller Williams agent Nicole Gary, say that the uptick is impossible to ignore. After a quiet 2024, demand among ultra-high-net-worth clients is up…